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PET Bottle Recycling Market Recent Study 2019: Global Analysis By Size, Share, Growth, Applications, Key Leaders and Regional Trends By Forecast to 2023
Jul 19, 2019 (Heraldkeepers) --

The global PET bottle recycling market is expected to exhibit a robust

Growing awareness about the adverse impact of plastic waste on the environment is the major driver for the global PET bottle recycling market over the forecast period. As plastics are nonbiodegradable, they have created an immense problem for the environment due to their widespread and longstanding use. Reducing the amount of plastic put out into the environment has become one of the key tactics for companies looking to succeed in the FMCG sector, as this helps them garner considerable public support and goodwill. The growing government support for plastic recycling in the form of rebates and tax concessions is also a major driver for the PET bottle recycling market, as manufacturers can now save directly through recycling.


The growing scarcity of the petroleum materials needed to produce plastics in large quantities is also likely to be a major driver for the global PET bottle recycling market over the forecast period. Plastics such as PET are majorly made from petroleum byproducts, making the industry highly dependent on crude oil prices and industry dynamics. This is likely to remain a key driver for the PET bottle recycling market over the forecast period.



In


The global

By recycling process, the global PET bottle recycling market is segmented into mechanical and chemical. The mechanical recycling segment dominates the global PET bottle recycling market and is likely to exhibit the highest CAGR over the forecast period. The segment accounted for a whopping 67.92% of the market in 2017.

By application, the global PET bottle recycling market is segmented into beverages, personal care products, consumer goods, pharmaceuticals, and others. The beverages segment is expected to dominate the global PET bottle recycling market over the forecast period due to the longstanding use of plastics for packaging beverages. The growing demand for packaged beverages in developing economies could also play a key role in the growth of this segment, which is expected to exhibit a CAGR of close to 6% over the forecast period.


The Americas are the dominant force in the global PET bottle recycling market, followed by Europe and Asia Pacific, which are also expected to hold considerable shares in the market over the forecast period. The Americas account for more than 30% of the global PET bottle recycling market and are likely to remain the dominant segment in the global market over the forecast period due to the high production of beverages, personal care products, and pharmaceuticals in this region and the high use of plastics for packaging the same. The widespread popularity and distribution of leading brands like Coca Cola and PepsiCo is likely to drive the PET bottle recycling market in the Americas over the forecast period.

The increasing demand for personal care products and beverages in emerging Asia Pacific economies is likely to be a major driver for the global PET bottle recycling market over the forecast period, as the growing disposable income of consumers in Asia Pacific has driven the demand for several household necessities such as cleaning products, as well as luxury products such as beverages and personal care products, which are often packaged in PET bottles. The Asia Pacific market for PET bottle recycling is expected to exhibit a strong 6.59% CAGR over the forecast period.





Table 1 Market Synopsis



Figure 1 Global Pet Bottle Recycling Market: Market Structure




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